Chapter 11: Reorganizing American Businesses (Essentials)
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Chapter 11 information. Kodak: Extend deadline: Three months into its Chapter 11 bankruptcy, Eastman Kodak Co. is sayin...
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Tribune Co. has unveiled plans for a third turn of top numero uno bonuses, as good as $15 million, bringing to more than $72 million the amount of pay enhancements the media callers handed out while operating under bankruptcy safe keeping.
Publisher of the Chicago Tribune, Los Angeles Times and Baltimore Sun and big-shot of a confinement of relay stations, Tribune wrapped the latest reward programs into the Chapter 11 intend it will be sending out for creditor votes.
Creditors will be voting on the bonuses as they umpire fix whether to keep Tribune’s diagram, which dishes out neutrality to lie on part of its $12.7 billion due encumber.
The new bonuses, which bedding 42 top executives, register nine of Tribune’s 10 top-ranking corporate leaders, according to papers filed with the U.S. Bankruptcy Court in Wilmington, Del.
They are in increment to $57.4 million significance of bonuses already approved by a bankruptcy expert over the protests of unions whose members desperate jobs due to the attendance’s monetary struggles. The earlier bonuses were paid out between May 2009 and February 2010.
...Chapter 11: Restructuring through a bankruptcy